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The innovative NFT esports shooter, Farcana, announced to have raised $10 million in seed funding. This investment is set to fuel the development of its third-person multiplayer shooter game, with contributions from a consortium of high-profile investors including Animoca Brands, Polygon Ventures, Fenbushi Capital, Merit Circle, and several others.
Farcana’s gameplay, set in a futuristic world where humans have colonized Mars, revolves around a substance called Axelar that grants superpowers. This setup creates an engaging backdrop for the game, which offers a unique blend of gameplay elements reminiscent of popular titles like Blizzard’s Overwatch and Riot Games’ Valorant, but with distinctive map designs and game modes.
Farcana’s approach to integrating blockchain technology into gaming is pioneering. The game features a play-to-earn tournament model, rewarding top players with Bitcoin, and operates on a free-to-play basis with optional NFT-based battle pass and crafting features. Each in-game item exists as an NFT, with transactions conducted using the FAR token.
Yat Siu, the co-founder and chairman of Animoca Brands, a key investor, expressed his admiration for Farcana’s progress, saying, “We have been working with Farcana over the past year and we’ve been impressed with the development and traction it’s received so far.” This endorsement underscores the game’s potential in the competitive gaming market.
The investment round also saw participation from Rarestone Capital, MMPro Trust, Unpopular Ventures, Kapo Capital, Emchain, Hasu Capital, and Dravus Investment, illustrating the wide interest in Farcana’s innovative approach to gaming.
Clarence Zhou, Investment Director at Fenbushi Capital, highlighted the game’s potential impact on the blockchain gaming world, stating, “We believe Farcana has the potential to be the next iconic blockchain game and continuously bring new users to Web3.”
The development team behind Farcana, advised by Carlos “Ocelote” Rodriguez, the founder and former CEO of G2 Esports, is based in the MENA region. The team has already demonstrated its capabilities with a pre-alpha gameplay showcase at the Dubai Esports Festival in June 2023, an event in collaboration with Dubai’s Economy and Tourism department.
Animoca Brands’ investment in Farcana aligns with their strategic vision for Web3 development in the MENA region. Yat Siu elaborated on this vision, emphasizing the region’s rapid modernization and adoption of emerging technologies.